Marked slowdown in demand; expect pick-up only from H2FY2014: The demand for passenger cars has deteriorated in the past quarter. After posting a single-digit growth in April-November 2012, the demand has slipped in the negative territory.

Orient Paper and Industries Ltd (OPIL), a C K Birla group company, on Wednesday said it had decided to demerge its cement business to sharpen focus on the rapidly growing industry.

Orient Paper & Industries today reported an 80 per cent decline in its net profit to Rs 30.14 crore for the quarter ended December 31, 2009, over the same period in last the fiscal.

Orient Paper & Industries has recorded a net profit after tax of Rs 51.22 crore in the quarter ended December 2008, a decline of 4.15 per cent over the same period last year. Net sales were, however, higher by 7.8 per cent to Rs 345.87 crore.